Senior Product Manager
Salary

Compensation for Senior Product Managers in the United States is generous, with average pay surpassing six figures annually ($116K). Cash earnings for Senior Product Managers — including $25K in bonuses and $20K in profit sharing proceeds near the top of the pay scale — generally stretch from $85K to $160K depending on individual performance. This group's pay is mainly influenced by the specific employer, followed by the particular city and tenure. Work is enjoyable for Senior Product Managers, who typically claim high levels of job satisfaction. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. The information for this snapshot was generated by responses to the PayScale salary survey.

XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

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Job Description for Senior Product Manager

A senior product manager handles many of the oversight duties involved in getting a product from the concept stage to the production stage; they also work to maximize product by foreseeing customer and market demands. Depending on their business' needs, this can include a number of different tasks. Typically, a senior product manager is in charge of ensuring that best practices are followed, goals are met, and projects and related operations are conducted effectively. Senior product managers are often in charge of coordinating marketing, sales, and other product-implementation strategies to ensure that operations are properly conducted. When it comes to product development, there are usually numerous stakeholders in the success of a product who may have differing visions for the product. A senior product manager serves as a liaison between stakeholders and the development/implementation teams. A senior project manager also must evaluate the market to find ways to better serve the customers and increase profitability.

Senior project managers typically have extensive experience and training in various aspects of business and commerce. They are proactive, leadership-oriented, and familiar with the needs of the company and the customer base. They must have knowledge of technical processes, adherence to marketing guidelines, and familiarity of business strategies. As with most leadership or oversight positions, senior project managers must be able to communicate effectively, analyze data from numerous inputs, and provide direction and guidance to their subordinates.

Senior Product Manager Tasks

Define and document product requirements and roadmaps for execution and sales.

Collaborate with cross-functional teams for every stage of product development.

Transform business and market strategies into do-able, defined product plans.

Lead market research and position conversations to ensure viable products and balanced growth.

Common Career Paths for Senior Product Manager

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Senior Product Managers may progress into high-paying roles like VP of Product Management, where median compensation is $176K annually. With an annual salary of $137K, Product Management Director is the most common role for Senior Product Managers to subsequently assume on their way up the ladder. Transitioning into a Marketing Director role — which usually pays $79K — is also typical for Senior Product Managers, though less common by comparison.

Known for its small paychecks, Oracle Corp. actually ranks last in the field for salary, reporting a median income of $95K — 74 percent lower than the top payer. Express Scripts Incorporated, T-Mobile, Inc., and Amazon.com Inc also rank near the bottom for pay, handing out $100K, $115K, and $136K-paychecks on average.

Popular Skills for Senior Product Manager

This chart shows the most popular skills for this job and what effect each skill has on pay.

Senior Product Managers report using a large range of skills on the job. Most notably, skills in Program Management, Strategic Marketing, Strategy, and Product Marketing are correlated to pay that is above average, with boosts in pay of 6 percent. Skills that seem to negatively impact pay include Microsoft Excel, Microsoft Office, and Project Management. Most people experienced in Product Development also know Product Marketing, Business Strategy, and End User Requirements Research.

Pay by Experience Level for Senior Product Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.

More years of relevant experience do not necessarily translate to higher paychecks. The average inexperienced employee pulls down a cushy six-figure sum; the median salary for people claiming fewer than five years of experience is $111K. After working for 10 to 20 years, Senior Product Managers make a median salary of $129K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $130K.

Pay Difference by Location

Relative to Senior Product Managers in the rest of the country, Senior Product Managers in Sunnyvale, San Jose, and Mountain View see salaries beyond the national average. In fact, these California cities offer more pay than any other American city. Denver is the lowest-paying area, 11 percent south of the national average. Not at the bottom but still paying below the median are employers in Minneapolis and Atlanta (11 percent less).